Marathon Digital Holdings, Inc. (NASDAQ:MARA) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) have received a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $19.00.

Several research firms recently commented on MARA. Weiss Ratings lowered Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, May 12th. Cantor Fitzgerald dropped their price objective on shares of Marathon Digital from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Citizens Jmp assumed coverage on Marathon Digital in a report on Wednesday, June 24th. They set a “market outperform” rating and a $24.00 target price on the stock. BTIG Research reiterated a “buy” rating and issued a $27.00 price objective on shares of Marathon Digital in a report on Monday, June 1st. Finally, Rosenblatt Securities upped their price target on shares of Marathon Digital from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, May 1st.

Insider Transactions at Marathon Digital

In other Marathon Digital news, CFO Salman Hassan Khan sold 16,000 shares of Marathon Digital stock in a transaction on Monday, May 18th. The shares were sold at an average price of $12.00, for a total value of $192,000.00. Following the completion of the transaction, the chief financial officer owned 425,066 shares of the company’s stock, valued at $5,100,792. The trade was a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Douglas K. Mellinger sold 7,000 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $16.00, for a total transaction of $112,000.00. Following the sale, the director directly owned 231,618 shares of the company’s stock, valued at approximately $3,705,888. This represents a 2.93% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 194,855 shares of company stock valued at $2,465,975. Company insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On Marathon Digital

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Marathon Digital by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 46,706,277 shares of the business services provider’s stock valued at $419,422,000 after purchasing an additional 1,394,559 shares during the period. State Street Corp lifted its holdings in shares of Marathon Digital by 1.4% in the second quarter. State Street Corp now owns 13,455,176 shares of the business services provider’s stock valued at $210,977,000 after buying an additional 191,380 shares during the period. UBS Group AG grew its holdings in Marathon Digital by 104.1% during the third quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock worth $220,922,000 after acquiring an additional 6,172,110 shares during the period. Marex Group plc grew its holdings in Marathon Digital by 2.6% during the fourth quarter. Marex Group plc now owns 10,137,713 shares of the business services provider’s stock worth $91,037,000 after acquiring an additional 259,210 shares during the period. Finally, Geode Capital Management LLC raised its position in Marathon Digital by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 9,957,766 shares of the business services provider’s stock worth $89,434,000 after acquiring an additional 251,674 shares in the last quarter. 44.53% of the stock is currently owned by institutional investors and hedge funds.

Marathon Digital Trading Down 6.9%

Marathon Digital stock opened at $12.05 on Wednesday. The stock has a 50-day moving average price of $13.35 and a 200 day moving average price of $10.77. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.99. The stock has a market cap of $4.59 billion, a PE ratio of -2.11 and a beta of 5.36. Marathon Digital has a 52 week low of $6.66 and a 52 week high of $23.45.

About Marathon Digital

Marathon Digital Holdings, Inc is a digital asset technology company specializing in the mining and acquisition of bitcoin. Headquartered in Las Vegas, Nevada, the firm employs high-performance application-specific integrated circuit (ASIC) miners and proprietary software to secure the Bitcoin network and expand its crypto-mining footprint. Marathon Digital focuses on operational efficiency and scalability, while maintaining rigorous standards for regulatory compliance and corporate governance.

The company operates multiple large-scale mining facilities throughout North America, including sites in Texas, Montana and New York.